Equities research analysts expect GTT Communications Inc (NYSE:GTT) to report sales of $247.75 million for the current quarter, according to Zacks. Six analysts have issued estimates for GTT Communications’ earnings, with estimates ranging from $245.72 million to $249.30 million. GTT Communications reported sales of $136.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 81.5%. The company is expected to issue its next quarterly earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that GTT Communications will report full-year sales of $247.75 million for the current year, with estimates ranging from $813.22 million to $816.80 million. For the next fiscal year, analysts expect that the firm will post sales of $1.02 billion per share, with estimates ranging from $1.00 billion to $1.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow GTT Communications.

GTT has been the subject of several analyst reports. Zacks Investment Research raised GTT Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Oppenheimer upped their target price on GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. GTT Communications currently has an average rating of “Buy” and an average price target of $40.20.

In other news, Director S Joseph Bruno sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $40.50, for a total value of $40,500.00. Following the completion of the transaction, the director now directly owns 108,467 shares of the company’s stock, valued at $4,392,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Chris Mckee sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $36.34, for a total value of $254,380.00. Following the completion of the transaction, the general counsel now directly owns 391,517 shares of the company’s stock, valued at $14,227,727.78. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 81,000 shares of company stock valued at $63,250 and sold 50,000 shares valued at $1,341,960. Corporate insiders own 25.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. grew its holdings in GTT Communications by 4.6% during the second quarter. D.A. Davidson & CO. now owns 20,224 shares of the technology company’s stock valued at $640,000 after purchasing an additional 890 shares during the period. Legal & General Group Plc grew its holdings in GTT Communications by 14.1% during the second quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock valued at $234,000 after purchasing an additional 907 shares during the period. American International Group Inc. grew its holdings in GTT Communications by 8.1% during the third quarter. American International Group Inc. now owns 20,768 shares of the technology company’s stock valued at $657,000 after purchasing an additional 1,552 shares during the period. Voya Investment Management LLC grew its holdings in GTT Communications by 18.9% during the second quarter. Voya Investment Management LLC now owns 13,789 shares of the technology company’s stock valued at $436,000 after purchasing an additional 2,193 shares during the period. Finally, Cadence Capital Management LLC grew its holdings in GTT Communications by 5.1% during the third quarter. Cadence Capital Management LLC now owns 52,526 shares of the technology company’s stock valued at $1,662,000 after purchasing an additional 2,528 shares during the period. 65.41% of the stock is owned by institutional investors and hedge funds.

Shares of GTT Communications (NYSE:GTT) opened at $43.60 on Friday. The company has a market capitalization of $1,866.40, a P/E ratio of 477.22, a PEG ratio of 19.63 and a beta of 1.48. GTT Communications has a 52 week low of $22.95 and a 52 week high of $47.75. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 4.08.

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About GTT Communications

GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.

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